MetaMask To Roll Out ETH Purchases Via PayPal

Decentralized application (dApp) provider and crypto wallet MetaMask has announced a partnership with payment service provider PayPal.

The partnership will allow MetaMask users in the United States to purchase ETH via PayPal and purchase, sell, and hold ETH directly in their wallets.

Purchase ETH Through PayPal

With the announcement, MetaMask claims to have become the first Web 3.0 wallet to offer ETH transaction options via PayPal. The collaboration allows MetaMask users based in the United States of America to use PayPal as their preferred payment method when purchasing ETH. The integration will also allow users to transfer ETH from PayPal to MetaMask. This is a significant boost when it comes to promoting the self-custody of crypto assets. In a press release, MetaMask stated,

“MetaMask is the first web3 wallet to enable users to buy ETH using PayPal, a leader in the digital payment space. In addition to purchasing ETH directly, the integration also supports the transfer of ETH from PayPal to MetaMask, aiding in more self-custody adoption.”

According to reports, PayPal partnered with MetaMask’s parent company, ConsenSys, in December 2022. Back then, the parties announced that the partnership would help users to purchase cryptocurrencies and explore the larger Web 3.0 ecosystem.

Joining A Vast Ecosystem

The partnership with MetaMask sees PayPal join a vast ecosystem of payment providers that have already integrated with MetaMask. These include giants such as MoonPay, Coinbase Pay, Transak, Wyre, Sardine, and a host of others. In a report filed with the United States Securities and Exchange Commission (SEC), PayPal stated that it held around $943 million in crypto assets as of 31st March 2023. This represents a significant 56% jump from the previous quarter when it reported crypto assets worth $604 million.

The news of the MetaMask and PayPal integration comes just weeks after MetaMask announced the launch of a new feature that allowed users to purchase crypto directly from its Portfolio dApp using fiat currency. The new feature, called “Buy Crypto,” allows users to p

Go to Source to See Full Article
Author: Amara Khatri

Did you like this?
Tip BTC Newswire with Cryptocurrency